Japan In A Recession U.S. stocks opened lower on Monday, with the S&P 500 retreating from its 41st record close of the year, after data showed Japans economy unexpectedly falling into a recession. Treasury prices climbed, oil fell and the Japanese yen strengthened against other global currencies after a report had Japans economy contracting 1.6 percent in the last quarter instead of the expected 2.1 percent gain. Baker Hughes surged in early New York trading after Halliburton Co. agreed to buy its rival in oilfield services. Allergan rose after Actavis said it would acquire the Botox maker for $219 a share in cash and stock. Mondays U.S. economic reports had industrial production falling 0.1 percent in October, compared to expectations for a 0.2 percent gain. Separate data had manufacturing activity in New York state rising in November, bouncing back from the prior months read. The Dow Jones Industrial Average declined 11.34 points, or 0.1 percent, to 17,623.40. The S&P 500 shed 2.23 points, or 0.1 percent, to 2,037.59. The Nasdaq dropped 4.12 points, or 0.1 percent, to 4,683.18. The candlesticks have been full of dojis lately on the S&P 500, so a little pullback this week would come as no surprise. Overall, the market remains slightly bullish.
Posted on: Mon, 17 Nov 2014 14:48:24 +0000
Trending Topics
Recently Viewed Topics
© 2015